Vale’s disaster boosts ESG funds in Brazil

Brazil is still skating in relation to the international trend. The three largest ESG investment managers look after less than R$50 billion ($8.9 bn). Two of them have funds that do not exclude polluting industries, although they include ESG data to decide their investments. Other local investors have also begun to realize that ESG issues had major financial implications.

Source: Reuters

Brazilians’ startups heading for best year in 2020

Even the pandemic and the economic crisis, Brazil’s innovation ecosystem is heading for its best year in history. According to data from Distrito, there were 100 startups acquisitions between January and September, surpassing the years 2018 and 2019. The total volume of contributions already stands at $2.2 bn, completing 82% of what was injected into the market in the entire year 2019.

Source: R7

Only one in four companies survive for more than 10 years in Brazil

Data published by IBGE show how difficult it is to maintain an active business in Brazil. One in four companies have managed to stay in business for over 10 years. According to the survey, of the approximately 889,500 companies created in 2008, only 225,000 were still operating in 2018. In other words, only 25.3% of the companies managed to stay in business for more than a decade.

Source: G1

BNDES funds $3.9 mm in renewable energy generation project

BNDES approved funding of R$21.9 million ($3.9 mm) to Geo Elétrica Tamboara to expand project to produce electricity from biogas generated by the vinasse. The technology developed by the company is a pioneer in the use of waste from the sugar-alcohol sector and can contribute to expanding the supply of clean energy in the country and reducing carbon emissions.

Source: Portal do Agronegocio

Eletrobras approves Eletronuclear capital increase of $377 mm

Eletrobras’ shareholders’ meeting approved a capital increase of R$1.88 bn ($377 mm) for its subsidiary Eletronuclear. According to the company, the operation will take place through the conversion of advance credits for a future capital of R$850 mm ($151 mm) and the conversion of financing credits in the amount of R$1.035 bn ($178 mm), both belonging to Eletrobras.

Source: Money Times

Revenues from the tourism sector in Brazil are down by 33.6%

Brazil’s tourism sector turnover was R$70.4 billion from January to August 2020, a reduction of 33.6% compared to the same period in 2019. The survey is by Fecomercio-SP, based on data from IBGE. In the period analysed, the sector’s negative result was boosted by the drop in air travel (68.8% retraction) and by accommodation and food services (43.2% decrease).

Source: Agencia Brasil